June 19, 2017 – Tampa, Florida –Global personal protective equipment market is estimated to reach USD 71.7 billion by 2024, according to a new research study published by Ameri Research.Stringent safety regulations coupled with rising emphasis on worker health & safety is anticipated to drive PPE market growth.

Availability of specialized protective equipment coupled with escalating investments on safety standards across end-use industries such as oil & gas, industrial manufacturing, transportation, and construction is projected to fuel demand. The expansion of manufacturing sector in countries including China, India, Brazil, Mexico, Thailand, and Indonesia is expected to further uplift PPE demand.

Increasing number of fatalities at workplaces coupled with regulations levied by agencies such as NFPA and OSHA is further projected to boost market growth over the forecast period. Huge taxes and penalties associated with non-compliance of regulations have compelled companies to focus on worker health & safety.

Rising automotive sales coupled with shift of manufacturing facilities to Asia Pacific and Latin America is another key factor projected to fuel demand. The transportation segment is accounted for over 10% of the overall market revenue in 2016 and is expected to grow rapidly owing to recovery of theautomotive sector in developed regions.

Hand protection was theleading product segment and accounted for over 20% of the overall market share in 2016.

North Americaemerged as the largest regional consumer and is anticipated to grow at an estimated CAGR of 6.9% from 2017 to 2024. Increasing oil & gas production coupled with growing residential construction is expected to drive regional market growth over the forecast period.

Increasing chemical processing facilities along with growth of manufacturing sector in Russia is projected to uplift growth in European region

The manufacturing sector was the leading application segment and accounted for over 24% of the market revenue in 2016. Strict regulations coupled with rising number of work accidents is anticipated to drive application segment growth.